Linden Thomas Advisory Services LLC Boosts Position in Credit Acceptance Corporation $CACC

Linden Thomas Advisory Services LLC boosted its position in shares of Credit Acceptance Corporation (NASDAQ:CACC) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,785 shares of the credit services provider’s stock after purchasing an additional 95 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Credit Acceptance were worth $909,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CACC. Khrom Capital Management LLC purchased a new stake in Credit Acceptance during the first quarter worth $30,639,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Credit Acceptance in the first quarter valued at $18,481,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Credit Acceptance in the first quarter valued at $12,999,000. Alfreton Capital LLP lifted its position in shares of Credit Acceptance by 11.8% in the first quarter. Alfreton Capital LLP now owns 190,000 shares of the credit services provider’s stock valued at $98,106,000 after acquiring an additional 20,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Credit Acceptance by 230.6% in the first quarter. AQR Capital Management LLC now owns 7,885 shares of the credit services provider’s stock valued at $3,961,000 after acquiring an additional 5,500 shares in the last quarter. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Credit Acceptance in a research report on Friday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $440.00.

Credit Acceptance Stock Performance

NASDAQ CACC opened at $506.56 on Monday. The business’s 50-day moving average price is $496.65 and its 200 day moving average price is $495.17. Credit Acceptance Corporation has a twelve month low of $414.15 and a twelve month high of $560.00. The company has a market capitalization of $5.69 billion, a PE ratio of 14.60 and a beta of 1.19. The company has a current ratio of 22.03, a quick ratio of 22.03 and a debt-to-equity ratio of 4.16.

Credit Acceptance (NASDAQ:CACC) last released its earnings results on Thursday, July 31st. The credit services provider reported $8.56 earnings per share for the quarter, missing the consensus estimate of $9.84 by ($1.28). Credit Acceptance had a return on equity of 27.06% and a net margin of 18.69%.The business had revenue of $583.80 million for the quarter, compared to analysts’ expectations of $583.30 million. During the same quarter last year, the company posted $10.29 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts predict that Credit Acceptance Corporation will post 53.24 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Daniel A. Ulatowski sold 2,139 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $509.05, for a total transaction of $1,088,857.95. Following the transaction, the insider directly owned 28,290 shares in the company, valued at approximately $14,401,024.50. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Lum sold 6,000 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $512.61, for a total value of $3,075,660.00. Following the transaction, the chief operating officer owned 31,493 shares in the company, valued at $16,143,626.73. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,697 shares of company stock worth $6,981,255. 6.60% of the stock is owned by company insiders.

Credit Acceptance Profile

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.